Alpha Ideas

I last had lunch with Captain Nair (of Leela Hotels) at the Great Wall, the Chinese restaurant at the Bombay Leela, a few months ago. He was 93 years old and yet physically active and mentally as sharp as ever. We talked about the Delhi property and he conceded that it was his last grand throw of the dice. He accepted also that the Leela Group had debts in excess of Rs 4,000 crore. But he did not seem particularly worried. “You only worry about paying back your debts if you have no money in the bank,” he said. “I have told Vivek and Dinesh (his sons) not to worry too much. Just be patient. The economy will pick up in a year or so. Then, we will sell two, three hotels and the debt will be reduced to normal levels.”      Wasn’t this easier said than done, I objected. “Oh no,” he responded. “In every business there are ups and downs. You can sit quietly and not take any risks. But then, what do you achieve? You have to look further and go faster than everybody else if you want to be remembered. Otherwise, what is the point in doing anything?” –wrote Vir Sanghvi